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It has been discovered that the Oregon Democratic Party (DPO) inaccurately reported the origin of a $500,000 donation from Nishad Singh, a former executive of cryptocurrency firm FTX.
A new report reveals that while the party initially stated that Singh made the donation himself, it was later revealed that the money actually came from FTX, Singh’s company.
Initially, the Oregon Secretary of State proposed a $35,000 fine for filing a false report. However, the party was able to reach a settlement that reduced the amount to $15,000. In addition, the party agreed to pay $10,000 in legal fees, but no criminal charges have been filed.
In a statement to Oregon Public Broadcasting, Acting Secretary of State Cheryl Myers said:
“While the financial penalties are significant, the most important part of the settlement is the numerous oversight requirements that the DPO has agreed to, including spot checks by Election Department investigators, to ensure compliance with all state campaign finance laws. In too many cases, people who violate campaign finance laws pay a fine and move on…
We have closed the investigation into whether DPO reported a contribution under an assumed name and are focusing that investigation on Nishad Singh. This settlement allows an investigation into the DPO to be reopened if new information comes to light.”
Under Oregon law, making a campaign contribution under an assumed name is a Class C misdemeanor punishable by up to five years in prison, fines of up to $125,000, or both.
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Featured image: Shutterstock/dani3315
